This is the fifth iteration of the Hong Kong Green Sustainable Debt Market Briefing, produced by the Climate Bonds Initiative (Climate Bonds) in association with the Hong Kong Monetary Authority (HKMA) and the Hong Kong Green Finance Association (HKGFA). This report “Hong Kong Green Sustainable Debt Market Briefing 2022” covers analysis of green, social, sustainability, transition bonds, and sustainability-linked debt instruments (GSS+). Using Climate Bonds’ GSS+ datasets based on the place of risk and HKMA’s approach by the place of arrangement or issuance, this series of reports provides a comprehensive overview of Hong Kong’s green and sustainable debt finance market.
Hong Kong continues to strengthen its presence as the green and sustainable finance (GSF) hub for the region, building on its established status as an international financial centre. However, in 2022, Hong Kong’s labelled green bonds dropped 49% YoY to USD7.0bn. Climate Bonds identified USD3.4bn worth of Hong Kong green bonds aligned with the Climate Bonds definition in 2022, a 65% decline YOY. The expectations and consequences of rising interest rates fuelled the decline in bond issuance which extended to green bonds.
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